7-9 November 2004, EICC Edinburgh
The following papers were presented at the 2004 Life Convention. Please note that most have been made available in two formats - as the original Powerpoint presentation, and in Adobe Acrobat format displaying three slides to a page.
Any queries about the Convention should be addressed to the Conference Department at e-mail: conferences@actuaries.org.uk.
The copyright in the content of the conference and seminar papers on this site may rest either with the authors or with the profession. Single copies may be downloaded for private study or research but more extensive copying requires the permission of the copyright owner. Should you wish to make multiple copies of any material please contact the Conference Department.
| Session | Title/speaker | |
| Plenary 1 | Guest speech by the Rt Hon Lord Penrose PC [pdf] | |
| Session unknown | De-risking with-profits funds [pdf] Martin Bradley and Neil Chapman |
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| Session A01 | Fixed interest investment for life insurers - driven by investment principles or regulation? [pdf] Scott Eason, Watson Wyatt LLP, and Paul Fulcher, UBS Slides [ppt] |
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| Session A02 | Can traditional face-to-face selling survive and prosper in the new regulatory environment [pdf, 1.6 mb] Andy Cherkas, Tillinghast |
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| Session A03 | Market-consistent embedded values - a practitioner's guide [pdf] Simon True and Penny Coulthard, Tillinghast Slides [ppt] |
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| Session A04 | Effective decision making in life companies [pdf, 1 mb] Icki Iqbal, Deloitte |
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| Session A05 | Dangerous opportunity - Life actuaries in Asia SESSION CANCELLED |
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| Session A07 | With profit committees SESSION CANCELLED |
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| Session A08 | Mortality differentials and annuity business [pdf] Stephen Richards, Prudential Slides [ppt] |
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| Session A09 | Product Reviews Working Party: Policy reviews and treating non profit policyholders fairly [pdf] Paul Turnbull, Watson Wyatt LLP, Geoffrey Maddock, Herbert Smith, and Charles Woodd, St James's Place |
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| Session A10 | Current underwriting issues [pdf] Russ Whitworth, Legal & General Slides [ppt] |
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| Session A11 | The role of the reviewing actuary [pdf] Derek Wright, Deloitte, Alex Arterton, Deloitte, and Kerr Luscombe, Abbey Slides [ppt] |
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| Session A14 | Pragmatic modelling of realistic balance sheets and ICA [pdf] Nigel Knowles, CSFB Europe, and Avijit Chatterjee, Standard Life Slides [ppt] |
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| Session B01 | Risk diversification benefits in insurance [pdf] Philip Long, Prudential, and John Whitworth, Mercer Oliver Wyman |
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| Session B02 | The impact of risk perceptions on consumer evaluation of financial products [pdf, 7.5 mb] Kathy Byrne |
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| Session B04 | Practical implications of implementing IAS in a life insurance company [pdf] Nick Rowley, Norwich Union Life, and Gary Hibbert, Yield Services Ltd |
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| Session B05 | Achieving excellence in the actuarial function [pdf] Lee Hudson, PricewaterhouseCoopers |
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| Session B06 | Life in China [pdf] Sandy Reid, Chief Actuary, Heng An Standard Life |
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| Session B07 | Life Office Taxation Working Party [pdf] Matthew Taylor, Ernst & Young LLP Slides [ppt] |
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| Session B09 | Changing mortality trends and risk factors [pdf] Hamish Galloway and Amanda Jones Slides [ppt] |
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| Session B10 | Wrap accounts [pdf, 7.9 mb] Bob Gibson, Grant Thornton |
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| Session B11 | European regulatory developments - driving further change [pdf] Gerard Davis and Jim Murphy, Life Strategies Slides [ppt] |
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| Session B12 | The board and their new responsibilities SESSION CANCELLED |
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| Session B13 | Quantifying operational risk in life insurance companies [pdf] Louise Pryor |
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| Session C02 | Working Party: Risk management in other industries SESSION CANCELLED |
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| Session C03 | Will the boom in critical illness sales make us sick? [pdf] Jason Hurley, Reinsurance Group of America Slides [ppt, 4.5 mb] |
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| Session C07 | Outsourcing actuarial services SESSION CANCELLED |
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| Session C08 | Farmers and actuaries ... outsourcing in their own fields SESSION CANCELLED |
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| Session C09 | What can actuaries learn from auditors (and what can auditors learn from actuaries) [pdf, 3.5 mb] Gordon Ireland, PricewaterhouseCoopers |
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| Session C10 | Paper on with-profits investment strategy [pdf] Tony Spiers and Tim Harris, Norwich Union Life |
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| Session C10 contd | With profits investment strategy [pdf] Tony Spiers and Tim Harris, Norwich Union Life Slides [ppt] |
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| Session C12 | A life in surveys - the British Longitudinal Studies [pdf] Peter Shepherd, Centre for Longitudinal Studies, University of London, and Shafique Bhunno, Reinsurance Group of America Slides [ppt] |
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| Session C14 | Insurer solvency assessment - Key issues for insurers SESSION CANCELLED |
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| Session C16 | Realistic balance sheets - how do you know they are right? [pdf] John Cummings and Matthew Ford, PricewaterhouseCoopers Slides [ppt, 1.2 mb] |
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| Session | Title/speaker | ||
| Session D02 | Alternative forms of capital available to life companies [pdf] Icki Iqbal, Clare Beale, Mark Versey |
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| Session D04 | How long do you expect to live? and why? Chris O'Brien, Centre for Risk and Insurance Studies, Nottingham Universtiy Business School |
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| Session D06 | The good, the bad and the outsourced [pdf] Tim Bateman and Michel Edwards, Marlborough Stirling Slides [ppt] |
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| Session D08 | Bonus and investment policy in a closed with-profit fund [pdf] Peter Needleman, Tillinghast, and Mike Kipling, Phoenix Life Group Slides [ppt] |
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| Session D09 | Trends in critical illness risk costs [pdf] Critical Illness Trends Research Group; Neil Robjohns; Joanne Wells Slides [ppt, 2.3 mb] |
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| Session D10 | Funding equity release mortgages: banking or life business? [pdf] Howard Kew, Norwich Union Life Slides [ppt] |
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| Session D11 | Solvency II developments in selected European countries [pdf] Brian Morrissey, KPMG |
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| Session D12 | Projecting a realistic balance sheet [pdf] Stephen Keane, Deloitte |
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| Session D13 | Individual capital assessment - credit risk [pdf] David King, Ernst & Young Slides [ppt] |
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| Session D14 | Risks to insurers and insurance groups from their occupational pension schemes SESSION CANCELLED |
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| Session E01 | Using derivatives to manage Pillar 2 capital in life assurance companies [pdf, 2.6 mb] Paul Stanworth, Royal Bank of Scotland, Stuart Morris, Milliman |
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| Session E03 | Treating customers fairly in a closed fund environment [pdf] Andrew Stoker, PricewaterhouseCoopers, and David Stuart, FSA |
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| Session E05 | Managing a multi-GAAP reporting process SESSION CANCELLED |
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| Session E06 | Acquisition and management of blocks of closed business [pdf] Steve Groves, Swiss Re Life & Health, David Baxter, Swiss Re Life & Health, and Robin Houghton, Watson Wyatt LLP Slides [ppt] |
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| Session E07 | Actuarial reforms from a legal standpoint [pdf] Steven Rhodes, Barrister, Deputy General Counsel, Reinsurance Group of America Slides [ppt] |
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| Session E08 | With profits actuary - a necessary role? [pdf] John Lister, Norwich Union Life Slides [ppt] |
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| Session E09 | Jumbo life insurance risks SESSION CANCELLED |
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| Session E10 | Qualities of Islamic insurance and prospects in the UK SESSION CANCELLED |
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| Session E11 | Role of the reviewing actuary SESSION CANCELLED |
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| Session E12 | E12: A beginner's guide to the implementation of realistic balance sheet reporting [pdf] Hitesh Shah, Canada Life, and Philip Simpson, Milliman Slides [ppt] |
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| Session E13 | One company's journey to realistic reporting [pdf] Brian Harrison, Friends Provident Slides [ppt] |
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| Session E14 | Capital management and market-consistent valuation tools [pdf] Craig Turnbull, Barrie & Hibbert Slides [ppt] |
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| Session F01 | Enterprise risk management in UK life insurers - a survey SESSION CANCELLED |
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| Session F02 | Creating value through risk and capital management Ian Farr, Tillinghast |
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| Session F04 | Enhanced embedded values [pdf] Nick Walker, Michael Rallings, Ernst & Young |
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| Session F05 | Capital market implications of the new reporting requirements in the UK life industry [pdf] Charles Garnsworthy; Mike Lamb; Rakesh Tanna Slides [ppt] |
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| Session FO6 | A practical introduction to change management for actuaries [pdf] Brian Wood, Telos Solutions |
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| Session F08 | Implications of CP207 for shareholder value SESSION CANCELLED |
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| Session F09 | Calibrating an asset model for use in profit testing SESSION CANCELLED |
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| Session F10 | Structured products - another mis-selling scandal [pdf] Kathy Byrne and Natalie Anderson, Pinnacle Insurance |
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| Session F11 | Peer review [pdf, 1.1 mb] Mike Shelley, Watson Wyatt LLP, Andrew Sanders, Watson Wyatt LLP, Colin Ledlie, Standard Life |
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| Session F14 | Operational risk in reinsurance SESSION CANCELLED |
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| Session F15 | Credit risk and reinsurers [pdf] Paul Brett and Darshan Singh, Gen Re LifeHealth Slides [ppt] |
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